Real Estate Math
A Colorado lot measures 75 feet wide by 120 feet deep. At $8 per square foot, what is the lot value?
A$60,000
B$72,000✓ Correct
C$80,000
D$96,000
Explanation
Area = 75 ft × 120 ft = 9,000 sq ft. Value = 9,000 × $8 = $72,000. Using the values given ($8), apply the appropriate formula.. The correct answer is $72,000.. This is a common calculation on the Colorado real estate exam.
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